SHERIDAN, WY, USA, September 20, 2022 /EINPresswire.com/ — The latest report published by IMARC Group, titled “Digital Manufacturing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on the digital manufacturing market trends. The report also includes competitor and regional analysis, and contemporary advancements in the market. The global digital manufacturing market size reached US$ 341.6 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 967.5 Billion by 2027, exhibiting a growth rate (CAGR) of 17.9% during 2022-2027.
Digital manufacturing offers a technology-based approach that uses various integrated and computer-based systems to plan, design, and perform diverse product production operations. It employs computer-aided design (CAD), computer-aided modeling (CAM), internet of things (IoT), simulation, three-dimensional (3D) visualization, and big data analytics as standard concepts. These solutions create the layout of the whole manufacturing process, arrange production lines, perform assembly sequencing, and fabricate products. Apart from this, digital manufacturing aids in increasing efficiency, providing instant turnaround across different value chain levels, minimizing operational costs, reducing potential errors, and automating the exchange of data.
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Digital Manufacturing Market Trends:
The rapid digitalization and the increasing demand for automated safety management and manufacturing units to optimize overall productivity are primarily driving the market growth. Moreover, the widespread adoption of product lifecycle management (PLM) systems across various industries to manage complex item information and execute product engineering functions is propelling product demand. Additionally, the extensive usage of digital manufacturing in the automotive industry to design essential tools and connected devices instantly by reducing vehicle downtime is favoring the market growth. Furthermore, the escalating accidents in industries due to falling objects, fatigue, or working in dangerous areas are fuelling the need for digital manufacturing for efficient human resources management. Besides this, the introduction of robotics and fifth generation (5G) technologies, smart wearables, remote monitoring and the integration of building information modeling (BIM) software, and radio-frequency identification (RFID) monitoring solutions are creating a positive outlook for the market.
Digital Manufacturing Market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the digital manufacturing market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
• Autodesk Inc.
• Bentley Systems, Incorporated
• CAD Schroer GmbH
• Dassault Systemes S.A.
• Mentor Graphics Corporation
• Siemens Aktiengesellschaft
• PTC Inc.
Key Market Segmentation:
The report has segmented the global digital manufacturing market based on component, process type, application and region.
Breakup by Component:
Breakup by Process Type:
• Computer-Based Designing
• Computer-Based Simulation
• Computer 3D Visualization
Breakup by Application:
• Automation and Transportation
• Aerospace and Defense
• Consumer Electronics
• Utilities and Processes
• Industrial Machinery
Breakup by Region:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
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Key Highlights of the Report:
• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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